With real estate prices continuing to fall, builders have been forced to come up with innovative schemes in order to woo buyers. Price guarantee scheme is one such sop being offered by the builders. This scheme — being offered by the members of Confederation of Real Estate Developers Association of India (CREDAI), Karnataka — is unique as it benefits the buyers and not sellers.
A s per the scheme, the buyer would get back the difference amount if the builder sells the apartment at a lower price than the amount received from the former.
Heres how it works: A buyer buys a 2BHK flat for Rs 24 lakh at an apartment complex consisting of 50 units. If the builder of the complex sells the remaining units for less than Rs 24 lakh (per unit), the buyer who bought the flat at Rs 24 lakh will get back the difference.
More : expressbuzz.com
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